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Tag Archives: Bitcoin

Cryptocurrency Prices Crumble; Traders Pay Through the Nose to Bet the S&P 500 Will Snap Higher; Dow Industrials Cross 26000 for First Time as Earnings Season Ramps Up Newsletter,Options

Lead Stories Cryptocurrency Prices Crumble; Bitcoin, Ethereum Post Large Losses Nasdaq Cryptocurrency Market under Heavy Selling Pressure “Only when the tide goes out do you discover who has been swimming naked,” stock market guru Warren Buffett once observed and it looks like the cryptocurrency tide has definitely receded in the last 24 hours with the market showing double digit percentage losses right across the board. The sell-off started in Asia and accelerated when European traders entered the fray, as talk continued to circulate that South Korea was preparing a cryptocurrency ban. Bitcoin and Ethereum prices fell sharply last week after…

Filings reveal DRW’s climb into top rank of trading firms; BlackRock’s Message: Contribute to Society, or Risk Losing Our Support; Euromoney’s RISI unit raided by EU antitrust authorities John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The CBOE is holding its press lunch today in Chicago. It is the Chicago financial press’s opportunity to ask tough questions to the CBOE management team. My money’s on the first question being about bitcoin.~JJL A few names mentioned in Bloomberg’s Bitcoin Frenzy Helps Crypto Hedge Funds Reap 1,100% Gains include: Lee Robinson, who co-founded the Altana Digital Currency Fund along with Alistair Milne; Cedric Jeanson of BitSpread Group; Manuel Anguita of Silver 8 Partners; and Daniel Masters, co-founder of Global Advisors Bitcoin Investment Fund. As always, can they keep it going?~JK Hong…

Kraken Bitcoin Exchange Reopens After Two Anxious Days; Scores injured as Indonesia stock exchange building lobby floor collapses; One corner of the stock market sees even crazier trading than bitcoin John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Welcome to Martin Luther King, Jr. Day in the United States, a holiday honoring the life of the slain civil rights leader, minister and peace-maker. ~JJL The most recent article found on a Google search for black executives on Wall Street was a Bloomberg story from July 27, 2017 that said the percentage of senior black executives and managers fell over the past five years. Black executives at JPMorgan Chase, Citigroup and Goldman Sachs accounted for no more than 2.6 percent of top positions at the three banks. ~JK From Business Insider’s piece…

This Is Where People Are Buying Bitcoin All Over the World; Who Wants to Be Bitcoin’s Watchdog? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Unsurprisingly, yesterday’s STAC panel on cryptocurrency, moderated by Bcause‘s Sean Ristau, looked to be the best attended. The lack of regulatory certainty is the biggest challenge in crypto, as no one is sure yet whether it is going to be considered a security or cash (SEC Chairman Jay Clayton has said “virtual currencies are unlike any commodity that the CFTC has dealt with in the past, and….pose challenges for the SEC as well.”) Clayton and CFTC Chairman Chris Giancarlo are scheduled to speak with the Senate on the matter next month. The CFTC…

Regulator halts European equity trading shake-up; ‘Fiduciary Rule’ Poised for Second Life; Emerging Managers Outperform Established Funds John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff LinkedIn is reporting the 15-year anniversary of John Lothian being at John J. Lothian & Company, Inc. Time flies when you publish a newsletter.~JJL CME Economist Erik Norland is back with more super weird spaghetti graphs, this time contained in his new piece The Yield Curve – Unemployment Feedback Loop.~SD The Security Traders Association of Chicago Mid-Winter Meeting begins today and I will again point out that the marketing material was themed “mid-winter is coming.” While rain is in the forecast, travelers to the City of Windbags should be grateful that it feels…

Quant funds set to pass $1tn mark; Hong Kong Exchange Eyes New Trading Rules; Spread-betting rise threatened by EU rules John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Brazil’s exchange, B3 (formerly BM&FBovespa) announced its main stock market performance index – Ibovespa – hit a record high Friday, ending the day at 79.071 points, up 0.54 percent from the previous Ibovespa record of 78.647 points last Thursday.~JK SGX reported its derivatives volume was 178.4 million, up 18 percent in 2017 from the previous year, with its FTSE China A50 Index futures the most active contract with 64 million contracts, up 13 percent. Here is the full report.~JK With Mark Mobius retired from Franklin Templeton, who in emerging markets will pick up…

Bitcoin-Futures Regulator Defends Oversight as Critics See Risks; DBOT ATS LLC Inc Announces the Official Launch of Blockchain-Powered Crowd Funding and Secondary Market John Lothian Newsletter,Newsletter

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First Read Hits & Takes By JLN Staff The newest edition of CME’s Off the Chart’s Podcast covers Bitcoin: Supply Growth, Mining Difficulty and Prospects in 2018. In a nutshell, it’s getting harder to mine bitcoin as it reaches its cap, which means supply will grow by less than 5 percent. ~SD Yesterday’s JLN Options covered rising popularity of risk premia strategies, SKEW vs. VIX, bitcoin options potential, the Intel chip flaws and more. ~SD VIX traded in the 8 handle yesterday. When’s the last time that happened? Oh, yeah, Thanksgiving. ~SD The weather phenomenon hitting the east coast right…

Researchers Discover Two Major Flaws in the World’s Computers; MiFID II’s First Day Comes Off Without Glitches John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff What’s hot: palladium. What’s not: lead. What’s been kind of interesting: lumber. ~SD The music streaming service Spotify has decided to go with a direct listing on the NYSE rather than a traditional stock offering – the most prominent company to try that route. This news comes, unfortunately for Spotify, directly on the heels of a lawsuit against the company for $1.6 billion over copyright infringement. The songs in question come from the catalogues of the likes of Tom Petty, Neil Young, The Doors and more. ~SD CQG’s Pat Kenny will moderate…

Mifid II launch overshadowed by futures delay; Ex-UBS Trader Says Bank ‘Mandated’ Conduct That Led to Libor Ban John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff OCC announced that 2017 volume reached the third highest total cleared contract volume ever.~JJL Jessica Darmoni will be moderating a panel at #STAC’s MidWinter Meeting on Artificial Intelligence and how it will influence future traders and analysts.~JJL Want a job with the NFA? Click here to learn more.~JJL CME Group averaged 16.3 million contracts per day in 2017, up 4% from 2016.~JJL John Sodergreen’s Risk Desk has an interview with CFTC Chairman Giancarlo on page 11 of the latest edition.~JJL Nasdaq PHLX LLC has given “Notice of Withdrawal of a Proposed Rule…